Stephen Colbert Sits Down With David Letterman on 'Late Show' (Video)

Stephen Colbert shed his conservative pundit persona for his appearance Tuesday on "The Late Show With David Letterman," his first time on the show since being named to replace the legendary host next year.

During his visit, Colbert revealed that he nearly worked for Letterman on two occasions. The first came in 1986, when the now 49-year-old graduated from Northwestern University. Colbert said he was offered an internship for Letterman's show at NBC, but turned it down.

"I did not take the internship because you do not pay people," he told Letterman. "The next job I'm taking, that pays, right? Because I've already signed."

Colbert's next attempt came in 1997, when he and his writing partner submitted material with the hope of becoming "Late Show" writers. Colbert then read a Top 10 list he submitted back then, titled "Top Ten Cocktails for Santa."

When the standard Top 10 List intro played for Colbert's list, Letterman pretended to get upset.